The Qatar FinTech Hub (QFTH), powered by Qatar Development Bank (QDB), has concluded its 7th Demo Day, marking the graduation of 20 startups from its Pre-Incubator and Incubator programs. The event, held under the theme “FinTech Transformations: From Vision to Impact,” served as a platform for major announcements aimed at significantly boosting the country’s financial technology ecosystem.
Enhanced Financial Support for Startups
During the event, QDB announced two major initiatives to increase capital access for early-stage FinTechs. The first is a new FinTech Startup Development Grant, introduced by the Qatar Central Bank and disbursed through QFTH. This co-financing grant offers up to QAR 1.5 million per company, tied to key growth milestones, to enhance their technical and regulatory readiness, support product development, and facilitate market entry.
Additionally, QDB has upgraded its Early-Stage Investment Program for QFTH graduates. The direct investment value has been raised to QAR 730,000 (approximately USD 200,000) per startup, complemented by a suite of support services. This includes access to the Entrepreneurial Talent Community Program, which aims to attract specialized talent to Qatar by providing premium housing options.
A New ‘Lab Model’ to Streamline Growth
QFTH also unveiled a redesigned operational framework called the ‘Lab Model’. This new approach offers a more practical and hands-on pathway for startups, focusing on product development and regulatory preparedness. The model is designed to accelerate the journey for FinTech companies towards entering the regulatory sandbox and navigating the licensing process with greater speed and efficiency. To ensure the model meets the needs of the ecosystem, the hub will hold discussion sessions with companies to address their specific challenges.
Showcasing a Diverse Cohort
The 7th cohort was the largest to date, featuring 20 startups that underwent intensive practical training and specialized mentorship. The graduates represent a diverse range of strategic sectors crucial for the future of Qatar’s financial industry, including open banking, crowdfunding, insurtech, and other emerging technologies. This focus aligns directly with the objectives of Qatar’s National FinTech Strategy and the Third Financial Sector Strategy.
To date, QDB’s commitment to the sector through QFTH and its investment arms has resulted in over QAR 73 million in investments and financing, solidifying Qatar’s position as an emerging regional FinTech hub.
About Qatar FinTech Hub
The Qatar FinTech Hub (QFTH) is a global hub initiated by Qatar Development Bank (QDB) to support the growth of the FinTech industry in Qatar. It aims to foster a thriving ecosystem of FinTech startups and scaleups through its incubator and accelerator programs, providing access to mentorship, funding, and a network of strategic partners, financial institutions, and regulatory bodies.
Source: QNA
